Tanishq, a top jewelry retail company owned by Tata in India, has opened its first store in the United States located in Little India, New Jersey. The store was officially opened by Senator Robert Menendez.
Senator Robert Menendez, who is also the Chairman of the Foreign Relations Committee, stated that Oak Tree Road is known to be the jewelry hub of New Jersey. He further added that the opening of Tanishq store on Oak Tree road, which is a popular Indian shopping destination and already has more than a dozen jewelry stores mostly owned by Indian Americans, is significant and different from the other stores.
It is not common for a Senator to participate in the opening of a jewelry store, however this particular store is unique due to the creative designs of the jewelry designer, according to the Senator.
The new jewelry store is located on Oak Tree Road in New Jersey and boasts a large showroom spanning over 3750 square feet across two floors. The store features a wide variety of jewelry options including 18 and 22 karat gold and diamond pieces, solitaires and jewelry with colored stones, according to a media statement.
Tanishq, the jewelry store brand, has stated that it aims to cater to the changing needs of Indian Americans, who make up 4.35% of the total population in the state and number around 387,000. According to the US Census Bureau, sales for jewelry stores were estimated at $33.2 billion in 2020, which represents a 25% increase from the previous decade.
Tanishq has been present in the US market for over a year through e-commerce and has received positive feedback from the community. According to the US Census Bureau, jewelry store sales were estimated at $33.2 billion in 2020, which is a 25% increase over the previous decade.
The store opening was attended by a number of notable individuals, including Randhir Jaiswal, the Consul General of India in New York, as well as John E McCormac, the Mayor of Woodbridge, Sam Joshi, the Mayor of Edison, Wesley Mathews of Choose New Jersey Inc, Vin Gopal, a New Jersey State Senator, and Congressman Frank Pallone.
Congressman Pallone stated that jewelry represents the “pride of India” and that it brings the culture and beauty of India to the local community. He shared these thoughts with those in attendance.
The store opening is part of Tanishq’s plan to expand its retail business. The company had previously opened its first international physical store in Dubai in November 2020, and now has a total of eight international locations, including seven in the UAE and one in the United States.
According to Kuruvilla Markose, CEO International Business Division of Titan Company Ltd, Tanishq already has a strong online presence in the US market. The high demand and interest shown by the Indian American community prompted the company to establish a physical presence in order to better serve their needs. The new store will showcase Tanishq’s latest collections and masterpieces, which are designed to meet the diverse jewelry needs of Indian Americans.
Tanishq announced that it plans to open 20-30 stores in North America and the Middle East in the next 2-3 years. In addition, the company currently has over 400 stores across 240 cities in India and intends to open an additional 100 stores in the coming year.
The goal of the company, Tanishq, is to establish itself as a worldwide brand and opening a retail showroom in the United States is a crucial step towards achieving that. According to C K Venkataraman, the Managing Director of Tanishq’s parent company, Titan Company Ltd, Tanishq has been successfully combining traditional elegance with modern brilliance for many years and they want to bring that same concept to New Jersey.